SA rand reaches 13 to the dollar

Thursday, 20 August 2015, 15:44
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SA rand reaches 13 to the dollar
South Africa’s rand fell nearly 1% against the dollar.
NATIONAL NEWS - South Africa’s rand fell nearly 1% against the dollar today, breaching 13 for the first time in 14 years as concerns about slowing growth in China weighed on commodity currencies.

The rand touched a session low of 13.0050 to the greenback, its weakest since December 2001 according to Thomson Reuters data.

Two major international factors have seen emerging market currencies taking major loses against the dollar.

On Wednesday night, the US fed hinted that it was moving towards a possible interest rate hike.

This has put more pressure on the rand and a number of other currencies.
 

Read more about: rand dollar SA currency

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